Two Legendary Investors Just Bought Meta Platforms Stock. Is It Time for You to Buy?
Meta was a popular stock pick by hedge funds during Q2.
The most recent Form 13F filings have been released, showing billionaire hedge fund managers' investment activities for the second quarter. Two prominent investors, Bill Ackman at Pershing Square and David Tepper of Appaloosa Management, recently increased their stakes in Meta Platforms (NASDAQ: META). Ackman boosted his position by 20%, making up nearly 10% of his holdings, while Tepper added over 50% to his stake, representing a 5% position in his portfolio.
These two astute investors are pouring significant funds into Meta's stock, but the information is a bit outdated. As of June 30, Meta's stock had declined by 3% since the quarter's end. However, since April 1, the stock has dropped by an additional 6%, making it a potentially better buying opportunity now than at any point during Q2. The question remains: Is Meta still a wise investment?
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